XAUUSD 2021 May 03 Week (Intraday)
XAUUSD
Weekly = Bearish | Daily = Bullish | H4 = Bearish
After bar A, there was little buying despite attempt to mark down the market.
We deduce there is little interest to the upside.
Bar B stopping volume that took out the longs gave us an opportunity to go long as price tested low of bar A at LTF>
Note though Bar B is also a sign of weakness so we don't want to hold the long till kingdom come.
Exiting at the previous high was a wise choice.
Long opportunity again at C as price went into support area.
Bar D prepared us to go short, and opportunity is confirmed 3 bars later.
It appears bulls/bears had not found a resolution yet. Market now is bunching around Bar E's close.
Preferred entry will be at red/green zone.
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Have a profitable trading week.
